SENECA BROADENS ITS
EIS OFFERING
Seneca has launched a new asset backed investment option, The Seneca
Managed Storage EIS Fund, for investors seeking to combine the tax
reliefs available under the Enterprise Investment Scheme (EIS), with an
investment underpinned by tangible fixed assets. This new fund is targeted
specifically at the managed storage sector and is an additional offering
to the existing Seneca EIS Portfolio Service which has already seen £35
million subscribed by investors to support growing SMEs in the Northern
Heartlands of the UK.
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| ONSIDE WINTER 2016
Seneca have been involved in the storage sector since 2014, via its investment
into Smart Storage Ltd and the new venture will work alongside the same
experienced management team who are responsible for managing the
current portfolio of storage assets. This team has identified a number of
freehold and/or long leasehold storage facilities to further expand the
estate of storage assets that it manages. The Seneca Managed Storage
EIS Fund provides investors with the ability to invest in this expansion,
whilst also benefiting from both the tax reliefs available under EIS and
the underlying asset value represented by the freehold or long leasehold
managed storage facilities.
Seneca’s Business Development Director, Ian Battersby comments
“Seneca believe that the underlying fundamentals of the managed storage
sector, combined with the inherent asset backing of the storage sites has
significant appeal. The sector benefits from low fixed operating costs,
recurring revenues, low customer concentration and has also enjoyed
increasing demand and yields in recent years.”